NIFTY Outlook for 9th March 2009

On Friday, at one point, it looked like NIFTY would plunge to new depths. Fortunately, it managed to recover and has climbed back above the rising green diagonal. The fact remains that it is still BELOW the 180 degree line. So, let us treat any bullishness with caution for the time being.

Possible Upside Target : 2,684.55
Possible Downside Target: 2,507.25

Bullish above 2,637
Bearish below 2,603